Flora, Indiana Property Taxes
The median property tax rate in Flora, IN is 0.76%, which is lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Flora at $113,500, the typical annual property tax bill amounts to $858, significantly below the national median of $2,690. Property taxes in Flora are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Flora's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Flora or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Flora, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$863
Ownwell’s Flora Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Flora with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Flora to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Flora, Indiana
Property taxes in Flora, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Flora is 0.76%, which is lower than the U.S. national median of 0.99%. Local government entities within Flora set these rates annually, and they can vary significantly across different neighborhoods. Each year, Flora estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Flora's effective property tax rate to other regions in Indiana and the national median. For comparison, the 46929 zip code has both the highest and lowest median property tax rate of 0.76%. Understanding how these areas compare with Flora provides valuable insights into the varying tax landscape across Carroll County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Flora Tax Rate
0.76%
Average Carroll County Tax Rate
0.65%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Flora, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46929 | 0.38% | 0.52% | 0.76% | 1.16% | 2.00% |
Source: Ownwell
Property Tax Assessment Values Across Flora, Indiana
In Flora, Indiana, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Carroll County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Flora, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Flora helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bills is 46929, with a median tax bill of $858.
Average Flora Assessed Value
$113,500
Average Carroll County Assessed Value
$127,000
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Flora, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46929 | $22,000 | $71,600 | $113,500 | $176,100 | $246,760 |
Source: Ownwell
Property Tax Bills Across Flora, Indiana
In Flora, located in Carroll County, Indiana, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Flora is $113,500, and property taxes are influenced by various factors including property size, location, and any applicable exemptions. For homeowners in Flora, the property tax bill can range significantly. At the 25th percentile, the tax bill is around $450, while at the 75th percentile, it rises to approximately $1,420. Those at the 90th percentile can expect to pay up to $1,972. The property tax rate in Flora is relatively moderate when compared to the national median property tax rate of 0.99%. This means that while the tax burden is manageable for many, it can still vary widely depending on the assessed value and specific circumstances of each property. Understanding these factors helps homeowners anticipate their annual tax liabilities and plan their finances accordingly.
Average Flora Tax Bill
$858
Average Carroll County Tax Bill
$831
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Flora, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46929 | $218 | $450 | $858 | $1,420 | $1,972 |
Source: Ownwell